MBA Graduates Face Job Market Challenges

The job market's current downturn is impacting even the most prestigious MBA programs, such as Harvard Business School (HBS), where 23% of graduates from the class of 2024 are unemployed three months post-graduation, a rise from previous years. This trend is also observed at other elite institutions like Stanford, Wharton, and NYU Stern, where job placement rates are at their weakest in years. Kristen Fitzpatrick from HBS emphasizes that the institution's name is no longer a guarantee of employment and that graduates need relevant skills to succeed. Major companies like Amazon, Google, and Microsoft have reduced MBA recruitment, while consulting firms have also scaled back hiring. In response, HBS is testing an AI tool to help graduates match their skills with job opportunities. Graduates who have adjusted their expectations are finding success, while those waiting for top-tier opportunities continue to struggle.